Masdar Secures Over 5 Billion Euros Funding for World Largest 247 Clean Energy Project
Masdar has achieved financial closing for a major renewable energy project valued at approximately 5329 billion euros (around 5100 billion US dollars). This initiative aims to develop the worlds largest continuous clean energy facility capable of providing 24-hour electricity supply. The project is considered pioneering, being the first gigawatt-scale infrastructure to deliver uninterrupted renewable energy through integrated solar power and battery storage. The total investment reaches 6329 billion euros (about 6100 billion US dollars), with Masdar contributing 1 billion euros in equity funding.
Located in Abu Dhabi, the project is a collaboration with Emirates Water and Electricity Company (EWEC). It comprises a 5.2 gigawatt (GW) solar photovoltaic plant paired with a 19 gigawatt-hour (GWh) battery energy storage system. This configuration enables a continuous supply of 1 GW of clean electricity, overcoming the typical intermittency challenges of renewable sources. Such integration sets a new benchmark for baseload, emission-free power generation, paving the way for reliable decarbonised electricity.
The financing package was supported by a consortium of 13 international and local banks, including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Crédit Agricole CIB, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered and Société Générale. Masdar sees this broad backing as a testament to the market confidence in the commercial viability of large-scale renewable projects and the company's capacity to manage complex energy infrastructure.
According to Masdar, this financial closure marks a significant milestone for the sector, confirming that large renewable projects with continuous supply capabilities are now financially feasible. The rise in electricity demand linked to artificial intelligence, data centres, and advanced industries underscores the need for dependable, clean energy infrastructure. Masdar's CFO, Mazin Khan, stated that the consortiums backing demonstrates strong confidence in the project and the firms strategic growth model. He highlighted the company's ability to mobilise substantial capital and develop innovative renewable infrastructure that supports energy security and economic growth.
The project, which broke ground in October 2025, is expected to become operational in 2027. It plays a central role in the United Arab Emirates energy transition strategy, enhancing grid stability and diversifying the economy. Masdar's portfolio now exceeds 65 GW of renewable projects, including solar, onshore and offshore wind, battery storage, and hybrid systems across diverse markets. The company aims to reach 100 GW of installed capacity by 2030, supporting global efforts to expand access to affordable, sustainable energy through international expansion and technological innovation.